News Highlights: Top Company News of the Day
December 05 2022 - 3:15PM
Dow Jones News
Hertz to Pay $168 Million to Settle False-Arrest Allegations
The car-rental company has for years grappled with allegations
that inventory mismanagement issues have caused it to falsely
report some of its cars as stolen.
Slack CEO Stewart Butterfield to Depart
Salesforce named current cloud executive Lidiane Jones to run
the messaging app.
Verizon CEO Vestberg to Take Over Consumer Unit After Executive Exit
Consumer division leader Manon Brouillette departed after less
than a year amid weak wireless subscriber growth.
Stablecoin Firm Circle Ends SPAC Deal
Circle Internet Financial, the company that operates the USD
Coin stablecoin, is ending its current attempt to go public though
a special purpose-acquisition merger.
VF Corp. Chairman and CEO Steven Rendle Retires
The apparel maker tapped a former Clorox chief as interim leader
as it cut its sales and earnings guidance amid flagging demand.
EU Tells Illumina How to Unwind Deal to Buy Cancer-Test Developer Grail
The European Commission said Illumina will have to restore
Grail's independence and return it to the same level that existed
before the acquisition.
FTX Effort to Save Itself Failed on Questionable Assets
The assets, which consisted largely of four thinly traded crypto
tokens, likely were worth less than the $6.4 billion FTX was
claiming.
Blackstone's Property Bets Are Getting Shakier
Rent growth is slowing for residential real estate, which makes
up over half of the private-equity giant's portfolio.
Nike Parts Ways With Kyrie Irving
The sneaker giant has cut ties with the Brooklyn Nets star after
suspending its endorsement.
Restaurant Groups Push to Overturn California Fast-Food Wage Law
A coalition of restaurants and business groups said they have
submitted enough voter signatures for a ballot measure to try to
halt the implementation of a new California law that would set
minimum wages for fast-food workers.
(END) Dow Jones Newswires
December 05, 2022 15:00 ET (20:00 GMT)
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